Aug 24, 2008 - 8:00pm
If businesses are serious about achieving a global climate agreement they should support calls to dedicate a proportion of permit auction revenue to assist developing countries join the global low-carbon economy and to help manage the impacts of climate change, said The Climate Institute today as it released a new report and global talks in Ghana swing in the balance.
Note: Members of the EU and others such as Mexico propose similar schemes. A bill including such a scheme was debated in the US Senate with support from religious and development groups. In Australia there is support for use of dedicated revenues from faith, development, union and social welfare organisations through Make Poverty History and the Southern Cross Climate Coalition (ACTU, ACOSS, ACF and The Climate Institute).